How Much Do I Have To Sell My House For To Break Even? : Financing : Nationwide Real Estate Advice

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Showing results for How Much Do I Have To Sell My House For To Break Even? [Clear search]
Thierry Abel, Real Estate Pro in Larkspur, CA
Thierry Abel answered:
Should I refinance and convert my FHA loan to conventional so I can get rid of MIP (PMI)?
You just need a minimum of 10% equity to refinance and get rid of your PMI.

Thierry

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 46 ... more
0 votes Share Flag Wed Jul 22, 2015 Financing in Orange
Kevin McLaug…, Real Estate Pro in Wildomar, CA
Kevin McLaughlin answered:
Best option for the long term?
Speak with your lender and ask for a payment comparison - specifically look at the mortgage insurance you will be paying because you aren't putting 20% down.

Good Luck!

Kevin McL ... more
0 votes Share Flag Thu Jan 24, 2013 Financing in Minneapolis
Alan Grizzle, Real Estate Pro in Dahlonega, GA
Alan Grizzle answered:
Is Pre-approval necessary in the northern Allegheny County and lower Butler County housing markets?
I don;t think you can get approved if you can't show you have the income to pay the loan off.
0 votes Share Flag Wed Nov 13, 2013 Financing in Cranberry Township
Vivien L Big…, Real Estate Pro in AZ,
Vivien L Biggs PLC answered:
I am looking for advice from someone knowledgeable about rehabs/flips. I have gotten conflicting advice ...
Hello Alia,

This is a lot of information that you want. Please contact me and I will explain what I have experienced.

Have a GREAT day!

Vivien L Biggs PLC
602-615-9137
Pruden ... more
0 votes Share Flag Wed Jul 18, 2012 Financing in Phoenix
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Is my landlord attempting fraud? I certainly don't mind obliging in this situation as he has been an e ...
I think you answer your own question by questinioning his motives. Simply put if you lie on a loan application it is fraud. Investor loans are higher in interest to reflect the higher r ... more
0 votes Share Flag Tue Oct 2, 2012 Financing in Arlington
Laura E. McG…, Real Estate Pro in Bradenton, FL
Laura E. McGeary, PA answered:
I made 85k/year for the last 4 years as a W-2, but, for the last 7 months I have worked as a 1099 making 12 ...
Contact Andrea Files, Senior Loan Officer, Sunbelt Lending Services. afiles@sunbeltlending.com or 330-573-1678. If she is unable to help you, she can refer you to someone who can!
0 votes Share Flag Mon Dec 19, 2011 Financing
Cristine Orz…, Real Estate Pro in Colorado Springs, CO
Cristine Orzel answered:
Which is a better way to finance a loan, commercial bank or a private lender? I m a 1st time home buyer and ...
Mortgage broker is usually best rate
0 votes Share Flag Mon Nov 14, 2011 Financing in Scottsdale
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
I am currently holding a 4.25% 30-year mortgage on a new home purchased in 2009. My house value has come down ...
Sign of the times. If you don't have to move or sell hang in there and maybe it will get better in the years to come.
0 votes Share Flag Mon Nov 7, 2011 Financing in Tampa
Tony McMahon, Real Estate Pro in WHITE PLAINS, MD
Tony McMahon answered:
Is there a magic number? What mortgage rate would move this market?
Doesn't matter if people can't qualify to take advantage of it.
0 votes Share Flag Thu Jan 19, 2012 Financing in Denver
Sherry Cabre…, Real Estate Pro in Plano, TX
Sherry Cabrera answered:
Two FHA Mortgage Loans?
You really need to speak with a lender. It is my understanding that you cannot have two FHA loans.

David Romero
VP Sr. Loan Officer
ViewPoint Mortgage
North Dallas
13101 Presto ... more
0 votes Share Flag Mon Apr 20, 2015 Financing in Little Elm
Jose Morales, Real Estate Pro in Lutz, FL
Jose Morales answered:
Is there possibility for a foreign property investor to borrow 50% of the property price to finance the purch ...
Absolutely. You may borrow even more depending on the type of property, how much you have in reserves, etc. There are some requirements to be met such as minimum loan amount, debt to in ... more
0 votes Share Flag Thu Dec 23, 2010 Financing in Orlando
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
Mortgage of my So SF condo is $220K. Looking for a $500K house in dalyC/So SF, if I can rent out the condo ...
Hi, Raymondx. The mortgage on your condo will still be applied against your income. Second, since you don't have a 2 year history of rent collected on the condo showing on your ... more
0 votes Share Flag Fri Dec 17, 2010 Financing in South San Francisco
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Is it worth putting 10% down on a property?
Jill your loan officer can easily break down what payment will be with putting down the minimum and putting down 10%. You need to look and see if there is enough of a savings in your mo ... more
0 votes Share Flag Fri Sep 10, 2010 Financing in 94117
Glen Mitchell, Real Estate Pro in Half Moon Bay, CA
Glen Mitchell answered:
Have to refinance b/c of divorce, but I'm upside down on this house
You sound like you might be a good candidate for the making home affordable program. http://makinghomeaffordable.gov/

It's not a quick process, but you have a hardship. Loo ... more
0 votes Share Flag Thu Aug 15, 2013 Financing in Sacramento
Jerry Kussy,  in Park Ridge, IL
Jerry Kussy answered:
I just purchased a house 6 months ago. The mortgage rate is 4.875% now, however ... me and ask me to do refinancing for the mortgage ...
You will need to check in your loan documents to see if you have any type of prepayment penalty. Most states do not have any, but some do. If you do not have a prepayment penalty, norma ... more
0 votes Share Flag Wed Jun 30, 2010 Financing
Jewel Stockli, Real Estate Pro in Sandy, OR
Jewel Stockli answered:
Need to lower monthly payments. What should we do with savings ... refinance OR finish & rent out basem ...
Your rate is not bad. Rates are really low now and rentals are in demand. Does your basement have a seperate entrance? With that savings I'd actually buy an investment property to ... more
0 votes Share Flag Fri May 28, 2010 Financing in Portland
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
If a lender has given me a pre-approval letter, is it possible that they will no ... me for a loan once I find a home? ...
The problem is that guidelines change all the time, so there is no way of telling. If you have very high credit scores, and a low debt-to-income ratio, it is likely that no guideline ch ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in Jacksonville
Scott Summers,  in San Ramon, CA
Scott Summers answered:
Which is a better way to buy? 5%FHA with 5% emergency backup?Or 10%down Conventional loan with no emerge ...
I would suggest talking to a good mortgage person who can consult with you on it. Try Michael Tacconi.

michael@michaeltacconi.com
925-872-0595 - Mobile
0 votes Share Flag Wed Feb 10, 2010 Financing in San Ramon
James Foy, Real Estate Pro in Costa Mesa, CA
James Foy answered:
Will Bank of America agree to a Short Refi on my mortgage , any help out there ?
First: BofA is notoriously hard to work with. A short refi is sometimes called a cramdown. If you can get one with BofA, please you could probably retire on the income you earn from wri ... more
0 votes Share Flag Mon Aug 17, 2015 Financing in Victorville
Marty Kaiser, Real Estate Pro in Orlando, FL
Marty Kaiser answered:
I bought my home in 2006 for $295K, put $160K down, and it is worth about 200K. Our income has gone down and ...
Hi Ellierose,

I am sorry to hear about your situation. Many folks are in a similar predicament. Given the info you have provided, that is you owe 135K, give or take and your home i ... more
0 votes Share Flag Sat Apr 17, 2010 Financing in Florida
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